FAZ dropped almost 3% but is still ahead of where I purchased so I have added to my position.  I am not looking for a huge drop here but ...?  The news of importance this weekend was that China has instructed its banks to "roll" approximately $ 1.7 Trillion of provincial debt.  Basically, all the empty buildings and boondoggle projects around China were 100 % financed and that money is never going to be repaid (sounds like Greece and the rest of the world).  BY forcing a "roll" of the debt we are seeeing the curtain part on the world financial system that nobody  even strong economies will reform  - it tells us that almost all Sovereign and banking bonds and balance sheets are worthless but that they will be rolled and rolled until they are meaningless.  This probably means that in the long run I should be buying FAS (bullish financials ) as they will never be allowed to fail but for now I will go opposite to that and stay with FAZ on a close stop and follow my instincts.

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